International Trade Important to Massachusetts Economy

June 19, 2014

“Resilient Massachusetts workers and firms have never been swayed by misguided calls for protectionism. ... The state has prospered from the days of the clipper ship to mutual funds to life sciences. Its best and brightest have not overlooked the promise of trade with foreign nations, who represent 95 percent of all consumers.” —Frank Conte, Beacon Hill Institute

The Massachusetts economy bounced back more readily after the economic crisis, in part because it “expanded its reach around the world,” writes Frank Conte, project manager of the State Competitiveness Index published by the Beacon Hill Institute, in a Boston Herald article.

The opinion piece, “Bay State benefits from foreign trade,” [PDF] published June 19, argues that renewing Trade Promotion Authority, or TPA, “will reinvigorate what it means to ‘Make it in Massachusetts.’”

“Under TPA Congress votes up or down on trade agreements reached with our trading partners. This gives the president the ability to strike new trade deals around the world,” he writes, noting that the TPA expired in 2007 and urging the Massachusetts congressional delegation to push for renewal.

“Simply put, new trade deals translate into new and higher-paying jobs and investment for the Bay State,” writes Conte.